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REMUNERATION REPORT
Remuneration report
continued
94
Tiger Brands Limited Integrated Annual Report
2014
treated on a consistent basis with Tiger Brands‘
shareholders following the distribution of Tiger
Brands’ investments in those companies.
Phantom Cash-settled Option Scheme
Executive directors
Details of phantom cash-settled options held by
executive directors under the Tiger Brands
Phantom Cash-settled Option Scheme as at
30 September 2014 are set out below:
Name
Date of
grant
Holding
at
1 October
2013
Granted
2014
Exercised
2014
Forfeited
2014
Holding
at
30 Sep-
tember
2014
Number
of options
subject to
retention
Number
of options
subject to
perform-
ance
targets
Grant
price
(Rand)
Number
of options
vested at
30 Sep-
tember
2014
Fair
market
value of
vested
options
at
30 Sep-
tember
2014
(R000)
Executive
directors
O Ighodaro Feb 2013 3 400
–
–
– 3 400
1 701
1 699 299,83
–
–
Feb 2012 18 900
–
–
– 18 900
9 450
9 450 253,18
–
–
Jun 2011 21 850
–
–
3 641 18 209 10 926
7 283 186,97
3 642 481
Total
44 150
–
–
3 641 40 509 22 077
18 432
3 642
481
PB Matlare Feb 2013 4 400
–
–
– 4 400
2 200
2 200 299,83
–
–
Feb 2012 32 800
–
–
– 32 800 16 401 16 399 253,18
–
–
Feb 2011 35 300
–
–
5 883 29 417 17 651
11 766 189,09
5 884 763
Feb 2010 73 200
– 12 200
– 61 000 24 400 36 600 172,07
12 200 1 762
Feb 2009 13 468
– 13 468
–
–
–
– 141,91
–
–
Total
159 168
– 25 668 5 883 127 617 60 652 66 965
–
18 084 2 525
CFH Vaux
Feb 2013 3 700
–
–
– 3 700
1 851
1 849 299,83
–
–
Feb 2012 20 600
–
–
– 20 600 10 300 10 300 253,18
–
–
Feb 2011 22 100
–
–
3 683 18 417 11 050 7 367 189,09
3 683 478
Feb 2010 45 400
–
–
– 45 400 22 701 22 699 172,07
15 134 2 186
Feb 2009 25 400
– 25 400
–
–
–
– 141,91
–
–
Apr 2008 29 363
– 29 363
–
–
–
– 106,44
–
–
Jan 2008 23 920
– 23 920
–
–
–
– 130,59
–
–
Total
170 483
– 78 683 3 683 88 117 45 902 42 215
–
18 817 2 664
In addition to the previous table, an executive
director previously held options over shares in
the Spar Group Limited and Adcock Ingram
Holdings Limited. All remaining options over
shares in the Spar Group and Adcock Ingram
Holdings Limited were exercised by the
executive director prior to 30 September 2014.
These options were created as part of the Spar
and Adcock Ingram unbundling transactions, to
ensure that Tiger Brands‘ option holders were